AWS announces $230 Million Commitment for Gen AI Startups

Amazon Web Services (AWS) has announced a $230 million commitment for startups around the world to accelerate the creation of generative AI applications.

This will provide startups, especially early-stage companies, with AWS credits, mentorship, and education to further their use of artificial intelligence (AI) and machine learning (ML) technologies.

Part of the new commitment will fund the second cohort of the AWS Generative AI Accelerator, a program that provides hands-on expertise and up to $1 million in credits to each of the top 80 early-stage startups that are using generative AI to solve complex challenges.

Applications for the AWS Generative AI Accelerator open today and will be accepted until July 19. Startups can apply here.

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The AWS Generative AI Accelerator identifies top early-stage startups that are using generative AI to solve complex challenges in areas such as financial services, healthcare and life sciences, media and entertainment, business, and climate change, among others.

 The 10-week program will match participants with both business and technical mentors based on industry vertical. Startups will receive up to $1 million each in AWS credits to help them build, train, test, and launch their generative AI solutions.

They will also have access to industry experts, technology, and technical sessions from NVIDIA, the program’s presenting partner, and be invited to join the NVIDIA Inception program, designed to nurture cutting-edge startups.

AWS will announce selected startups for the second cohort on September 10, and the program will kick off on October 1 with in-person sessions at Amazon’s Seattle campus.

All 80 participating startups will be invited to attend and showcase their solutions to potential investors, customers, partners, and AWS leaders in December at re:Invent 2024 in Las Vegas.

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